(LEAD) Korea's exports set to decline for 8th straight month in July

SEJONG, July 22 (Yonhap) -- South Korea's exports are set to extend their slump to an eighth month in July, driven by a decline in outbound shipments of semiconductors and petrochemical goods, data showed on Monday.

The country's exports fell 13.6 percent in the first 20 days of July from a year earlier to US$28.3 billion, according to the data compiled by the Korea Customs Service.

Average daily exports -- which reflect working days -- declined 16.2 percent on-year to $1.71 billion.

By destination, South Korea's exports to Vietnam and Singapore rose 8.7 percent and 0.9 percent, respectively. South Korea's shipments to China and the United States -- south Korea's top two trading partners -- fell 19.3 percent and 5.1 percent, respectively.

South Korea imported goods worth $28.7 billion in the 20-day period, down 10.3 percent from a year earlier.